Tata Capital Ltd has announced plans for an initial public offering (IPO) that will consist of a combination of new shares and an offer of sale by existing shareholders. According to an exchange filing on Tuesday, the non-banking financial services firm will offer 230 million new shares and has approved the issuance of rights shares worth ₹1,504 crore ($173 million).
This move makes Tata Capital the latest company from the $165 billion conglomerate to go public, following Tata Technologies Ltd’s IPO in 2023. The Tata group, known for its luxury cars under the Jaguar and Land Rover brand, the Taj chain of hotels, and software giant Tata Consultancy Services Ltd, continues to expand its presence in the market.
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